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Employees more comfortable than bosses with GenAI, research shows

While workers are looking forward to artificial intelligence (AI) taking over repetitive tasks, managers are more cautious about implementing the technology – and its impact on jobs. Some 86% of the professionals LexisNexis surveyed for its Future of work report 2024 either agreed or strongly agreed that they were willing to embrace generative AI (GenAI)…

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Cloud banking fintech unicorn cuts 50 staff

UK fintech unicorn Thought Machine has cut 50 staff in roles it said were no longer needed, with sales and marketing positions mainly affected. The cloud-based core banking software provider, which now employs 590 staff, has grown rapidly and accumulated significant customers from the challenger and traditional bank sectors. Lloyds Banking Group, JPMorgan Chase, SEB,…

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Over a quarter of UK adults use buy now, pay later fintechs

Fintech-based credit services, known as buy now, pay later (BNPL), were used by over a quarter of adults in the UK in the second half of last year, according to Financial Conduct Authority (FCA) figures. In its Financial Lives research, the FCA found that 27% of the UK’s adult population, some 14 million people, had…

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UK Finance paints mixed picture of fraud as losses top £500m

The rate of cyber fraud dropped slightly over the first six months of 2023, falling 2% compared to the same period in 2022, but even so criminals and fraudsters still managed to steal approximately £580m via both authorised and unauthorised fraud during the period, according to UK Finance’s latest half-yearly report. At the same time,…

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Brazilian iPhone owners can now accept payments using Tap to Pay

Apple’s Tap to Pay feature is now available in Brazil for the first time, making the country just the sixth to support it.Tap to Pay allows people to receive payments using nothing more than their iPhone, with Brazilian fintech company CloudWalk adding support via its InfinitePay platform.Vendors can now receive contactless payments using just their…

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Apple fights back against attempts to regulate Apple Pay, Wallet in Australia

Article Hero Image The Australian government’s intention to impose more regulations on Apple Pay, Apple Wallet, and other payment mechanisms is an overreach, Apple insists, with it potentially risking the security of its service. The Commonwealth Bank of Australia and other financial institutions have pushed lawmakers to consider implementing new regulations that affects Apple Wallet,…

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Apple cracks down on lending apps after deepfake nudes threat

Apple removes some predatory lending apps in India Apple has removed a bunch of exploitative lending apps in India that used unethical strategies to collect, such as threatening to send deepfake nudes to borrowers’ contacts. During the past week, Apple removed several apps from its store, including Pocket Kash, White Kash, Golden Kash, and OK…

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Apple and Fintiv to talk about patent lawsuit settlements in June

Apple Wallet on an iPhone Apple and Texas firm Fintiv are preparing to hash out a potential settlement on June 8, to try and end a patent infringement lawsuit involving Apple Pay and Apple Wallet. The U.S. District Court for the Western District of Texas has ordered for Fintiv and Apple to meet for a…

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Apple’s new Savings account might have already crossed $1 billion in deposits

Apple Savings may have just launched a couple of weeks ago, but that hasn’t stopped people from dumping a ton of money into it already. As reported by Forbes, Apple Savings may have already crossed $1 billion in deposits. According to someone familiar with the product’s performance, it achieved around $990 million in deposits in…

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